PERTH (miningweekly.com) – Australian nickel-sulphide producer Western Areas and its Finnish joint-venture (JV) partner Magnus Minerals said on Wednesday that they were considering listing a new company to advance base-metal projects in central Finland.

Western Areas and Magnus Minerals said they would start looking for a partner to explore six nickel/zinc/copper projects in March.

Western Areas and Magnus Minerals believe that the 180 km-long Kainuu Schist Belt, which hosts Talvivaara, has the potential to develop into a major metal province with multiple mines. The JV has a dominant tenement holding in this belt.

The new partner would assist in funding a three-stage programme including exploration/resource drilling, metallurgical test work, feasibility studies and potential project development. The incoming partner would be provided the opportunity to earn equity in one or more of the projects.

Western Areas said that the incoming partner would also have an opportunity to secure long-term offtake contracts for a range of nickel, zinc and copper products.

Depending on the outcome of the process to find a partner and on results from ongoing drilling programmes in Finland, Western Areas and Magnus Minerals might consider listing a new company to advance the projects.

“Finding a partner for the Finland JV and potentially listing a new company in the next 12 months should provide the opportunity to secure substantial funding to progress these outstanding assets in a way which will benefit Western Areas and Magnus shareholders,” Western Areas said in a statement.

The company added that it remained focused on expanding production and increasing cash flow from the its core high-grade Australian Flying Fox and Spotted Quoll nickel assets and on finding the next Flying Fox-type deposit at Forrestania.